Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
Diwali is celebrated on Kartik Amavasya (Kartik Amavasya 2025). According to religious belief, Di
Terming physical and mental pressure on children, discrimination, and harassment in the name of s
India-Pak Relation: The Foreign Ministers of India and Pakistan have met for the first time after
The Board of Control for Cricket in India (BCCI) has called a review meeting following Team India
If we talk about Hollywood's great web series, then the name of Wednesday is definitely included
In the 35th match of IPL 2023, Gujarat Titans will clash with Mumbai Indians. In their last match
UNSC: China put obstacles in declaring Makki as a UN terrorist, stopped India and US proposal
China has once again turned down the efforts of India and America while supporting Pakistan on te
Team India will play ODI and T20 series against West Indies, two matches will be played in America
Cricket West Indies (CWI) has confirmed that India will play a few T20 Internationals in the US.
On behalf of Prime Minister Narendra Modi, a chaadar will be offered at the dargah of Khwaja Moin
There has been chaos in Pakistan's Balochistan after the hijacking of 'Jafar Express' going from
